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Court confirmed final judicial management, held directors lack locus under provisional judicial management, and appointed the nominated manager.
Companies law – Judicial management – Companies Act ss 303, 305, 306, 307, 308 – Locus standi of directors under provisional judicial management – Effect of lapsed return date for confirmation – Confirmation of provisional judicial management where reasonable prospect of turnaround – Appointment and powers of final judicial manager; stay of proceedings; discharge of provisional judicial manager.
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18 March 2014 |